Teacher Retirement System of Texas lessened its holdings in SLM Corp (NASDAQ:SLM) by 8.1% during the second quarter, HoldingsChannel.com reports. The firm owned 87,936 shares of the credit services provider’s stock after selling 7,702 shares during the quarter. Teacher Retirement System of Texas’ holdings in SLM were worth $1,007,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Calamos Wealth Management LLC purchased a new stake in shares of SLM during the second quarter valued at approximately $129,000. Oppenheimer & Co. Inc. purchased a new stake in shares of SLM during the first quarter valued at approximately $133,000. Gillespie Robinson & Grimm Inc. purchased a new stake in shares of SLM during the second quarter valued at approximately $149,000. American Asset Management Inc. purchased a new stake in shares of SLM during the second quarter valued at approximately $187,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of SLM during the first quarter valued at approximately $275,000. Institutional investors and hedge funds own 99.80% of the company’s stock.
Shares of SLM stock opened at $11.60 on Thursday. The company has a market cap of $5.00 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.58 and a beta of 1.17. SLM Corp has a twelve month low of $9.65 and a twelve month high of $12.46. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.41 and a current ratio of 1.41.
SLM (NASDAQ:SLM) last issued its quarterly earnings data on Tuesday, July 24th. The credit services provider reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The company had revenue of $340.95 million for the quarter, compared to the consensus estimate of $333.28 million. SLM had a net margin of 21.69% and a return on equity of 18.48%. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. research analysts anticipate that SLM Corp will post 1.01 earnings per share for the current fiscal year.
In other SLM news, EVP Paul F. Thome sold 22,104 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $11.13, for a total value of $246,017.52. Following the transaction, the executive vice president now directly owns 183,383 shares in the company, valued at $2,041,052.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Mcgarry sold 95,584 shares of the stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $11.88, for a total transaction of $1,135,537.92. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of SLM from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Wedbush cut their price target on shares of SLM from $14.50 to $14.25 and set an “outperform” rating on the stock in a report on Wednesday, May 30th. Zacks Investment Research cut shares of SLM from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Stephens assumed coverage on shares of SLM in a report on Monday, July 9th. They set an “overweight” rating and a $15.00 price target on the stock. Finally, Wells Fargo & Co set a $14.00 price target on shares of SLM and gave the company a “buy” rating in a report on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $14.52.
SLM Corporation, together with its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.
Recommended Story: Understanding Price to Earnings Ratio (PE)
Want to see what other hedge funds are holding SLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLM Corp (NASDAQ:SLM).
Receive News & Ratings for SLM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLM and related companies with MarketBeat.com's FREE daily email newsletter.